CHICAGO
PROPERTY DIVISION LAWYER

Chicago property division attorney/lawyer

Ending a marriage requires settling various financial matters between the divorcing spouses. In every marriage, each spouse owns their own respective separate property, and the couple shares ownership of marital property. This generally includes income earned by both spouses during their marriage, property purchased jointly, and all assets and debts acquired during their marriage. Divorce requires the spouses to divide their marital property, and every state uses a different method for accomplishing this fairly in divorce.

Guiding Chicago Clients Through Property Division in Divorce

Illinois is one of many US states to use an equitable distribution law. This property division method aims to ensure the fairest possible division of marital assets and debts in divorce by accounting for as many details as possible between the divorcing spouses. The equitable distribution standard typically aims to resolve property division with some measure of finality, negating the need for ongoing spousal support arrangements. However, every divorce is unique, and it is possible for spousal support to come into play in any Illinois divorce in which the spouses have vastly different earning power.
Regardless of what your divorce may involve, you and your soon-to-be ex-spouse must resolve property division and various other financial issues to complete your divorce. Johnson O’Keefe can provide the communicative and detail-oriented legal representation you need on your side to approach your case with greater confidence and peace of mind.

Understanding Equitable Distribution in Illinois Divorce

Every divorce is different, and some divorcing couples are more agreeable than others when it comes to negotiating their divorce terms. When most people in the Chicago area think of divorce, they imagine emotionally charged courtroom battles, while the reality is that most divorcing couples opt for alternative dispute resolution. While it’s not possible to solve every issue in every divorce through private settlement, alternative dispute resolution can provide substantial flexibility to divorcing couples negotiating property division.
Under the equitable distribution standard, the court expects divorcing spouses to split their marital assets and assign separate responsibilities for shared debts as fairly as possible. While it is possible to litigate a divorce and let a judge settle property division, the judge’s interpretation of what would be “fairest” isn’t likely to align with either of the divorcing spouses’ expectations. When a divorcing couple is willing to explore alternative dispute resolution, they have more flexibility in negotiating property division under the equitable distribution law.
Both spouses must provide complete financial disclosure statements that include all necessary financial records. If a divorcing spouse intends to assert separate property ownership rights, they must include all supporting documentation in their financial disclosure statement. All other marital property must be divided equally. The spouses could decide to liquidate certain assets and divide the proceeds, and a judge will likely require similar actions if a couple litigates property division. By exploring alternative dispute resolution, divorcing spouses may effectively negotiate “trades” of specific assets and otherwise customize their property division agreements to their preference.

What Counts as Separate Property?

The financial disclosure statement you provide to the court is the most important first step in your property division proceedings. Next comes your separate property ownership claims. In Illinois, separate property can include any property you inherited from your parents and other family members, family heirlooms, gifts, and anything given to you in a “donatory” capacity by your spouse. It is important for all divorcing spouses to remember that the distinctions between “marital” and “separate” property also apply to debt in divorce. It’s common for disputes to arise in divorce proceedings when a couple argues over responsibility for certain debts.
In most cases, the court will treat a debt the same as physical property. If one spouse held the debt prior to marrying or acquired it without the other spouse’s knowledge or consent, they would likely face sole responsibility for the debt. If a spouse intentionally wastes marital assets or attempts to leave their spouse with credit card debt by squandering shared accounts during divorce, they can face severe penalties.
If you are unsure what qualifies as your separate property and your individual debt, it’s vital to consult an experienced Chicago property division attorney as soon as possible. Your attorney will be an invaluable resource for identifying, classifying, and valuing all property and debt involved in your divorce proceedings. When you choose Johnson O’Keefe to represent you, you can expect responsive and meticulous guidance through all stages of property division in your divorce.

Important Details to Remember About Property Division in an Illinois Divorce

Every divorce is unique, and while all property divisions in Illinois must unfold under the equitable distribution standard, there are many variables that can influence the financial aspects of a final divorce order. Johnson O’Keefe has a strong reputation for reliable and comprehensive divorce representation in Chicago, IL. In addition, our team knows the challenges facing divorcing spouses in the area and the difficulties they face in property division proceedings. Some of the variables that can easily complicate your impending property division determination include:

Every divorce is unique, and while all property divisions in Illinois must unfold under the equitable distribution standard, there are many variables that can influence the financial aspects of a final divorce order. Johnson O’Keefe has a strong reputation for reliable and comprehensive divorce representation in Chicago, IL. In addition, our team knows the challenges facing divorcing spouses in the area and the difficulties they face in property division proceedings. Some of the variables that can easily complicate your impending property division determination include:

High net worth. If you and your soon-to-be ex-spouse control significant assets, complex business interests, investment accounts, stock, and cryptocurrency, any of these issues has the potential to complicate the property division determination in your divorce.

Prenuptial contracts. Some marrying couples develop prenuptial agreements that outline their financial rights and responsibilities for marriage, and some of these contracts include provisions that pertain to divorce. If you and your spouse have a prenuptial agreement in place, this can potentially streamline your divorce by outlining property division clearly right away.

Hidden assets and fraud. While the thought of sharing your property with your spouse in divorce may be difficult for some to accept, attempting to hide assets to protect them from division in divorce carries severe consequences. Johnson O’Keefe can address any concerns you have about your spouse’s truthfulness in their financial disclosure statement.

Johnson O’Keefe specializes in helping clients resolve their divorce in the most efficient ways possible, and this usually entails alternative dispute resolution. However, if you must resolve your property division determination in court, you can rely on Johnson O’Keefe to represent you in litigation, helping ensure the judge delivers a fair ruling in your case. If you have questions about property division in Illinois divorce or need to speak with a Chicago property division attorney about your situation, contact Johnson O’Keefe to schedule a consultation with our team.

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Testimonials

Myles helped me draft a prenuptial agreement, and he was a trusted and helpful advisor during a very delicate legal negotiation process with my now-husband!

Rose

Genet and Shannon were amazing, communicative, supportive and great to work with. Highly recommend.

Shae

Excellent legal service provided in a professional and timely manner. All my questions answered and very friendly staff. Cost for service very reasonable. Highly recommended to you by me! Give her a call.

Virginia

Myles and Genet Johnson truly helped to make a stressful situation positive, understandable and manageable. They’re professional and supportive team work was beyond efficient and they got the job done in the least amount of time and with the least stress possible. They’re an amazing team to help with family needs and are always available…

MA
Myles Johnson and everyone at his firm made my divorce a speedy and not a stressful experience. Everyone was fast to return calls or emails. They explained everything thoroughly and so that I could understand the process. They worked with me every step of the way. I would highly recommend Johnson Law Group and if…

Robin
Genet and Elizabeth were delightful to work with and definitely helped me to understand the process. Thank you.

Aleza

Myles Johnson is an excellent divorce attorney – the Best of the Best! I HIGHLY recommend him and his legal team of paralegals and staff because I had a great experience with them. Myles is smart and savvy and fully committed to his clients as an attorney and mediator. He represented me in my divorce…

MJ

I called Johnson Law Group extremely frustrated and stressed with the process of my custody case. From the consultation to every conversation after, Elizabeth went out of her way to make sure that i was comfortable with all the matters and decisions. My goals and the safety of my children were always the priority to…

Patricia
My divorce was extremely difficult. I faced very serious allegations and the possibility of losing my children and almost complete financial ruin. I felt alone and desperate. If it hadn’t been for the professionals at Johnson Law Group my life would have been ruined for years to come if not permanently. Everyone at the firm…

Zarzegas
I wasn’t familiar with the process of child custody but I must say not only did Myles and his team direct me properly but it was a process that wasn’t money motivated. Very professional group, I was constantly informed of any step or move needed to be made, and they took a very stressful situation…

Dwight
Amazing law firm. Professional, caring, organized. They will represent your best interests! They communicate well with you and are straight forward with everything from rates to the legal process. Myles Johnson is a experienced, knowledgeable, well-versed in the laws as they pertain in each county throughout the State of Colorado. As a client, I highly…

Caleb
I was in a very difficult custody/child support dispute with my ex-spouse. The Johnson law Group and in particular Elizabeth Gregory was phenomenal with their representation of my case. Working with her was such a wonderful experience, kept our goals at the top of every conversation, knew all points and avenues that we could take,…

Liz
Johnson Law Group has the greatest Attorneys and staff in Colorado State. I recommend every family to choose this Law Firm. Attorney Genet Johnson and Myles Johnson has profound knowledge of the Law, and they can help individuals to have balance, peace of mind, avoid issues, assist with problems, work on important aspects of communication/listening,…

Cierra
Very professional, and caring. Helped me through a difficult divorce and made what I thought was going to be an impossible process so much easier. Everything was handled well, they listened to all my concerns, and responded in a timely manner. I would highly recommend using Johnson Law Group, they are amazing!

Sonja
Myles and his firm did an excellent job on my case. He helped me settle a financial dispute with my ex-wife concerning my retirement income. He was firm and consistent while being very professional with the opposition. Myles was a good communicator and responded to questions and concerns promptly. I will definitely call him if…

Rob
Johnson Law Group did and is doing an excellent job with my case. Quick response to questions, making the line of communication superb. Thanks for all help and wish you all a great future.

Mista
Myles took great care in guiding a smooth process from start to finish drafting a prenuptial agreement. He was responsive, efficient, and coordinated well with my wife’s attorney. Very happy with the final result

Nick

Genet and Myles Johnson were two of the most helpful attorneys for us! Not only were they professional, articulate, kind, and knowledgeable but they were also on top of everything. They handled all of the scary details for us during a custody dispute so we didn’t need to worry about anything during this time. I…

Anonymous
Myles and Genet are awesome! I have had to have several rewording of documents due to my ex-husband being in the military. I felt like I was bothering them but they said I could contact them anytime! I highly recommend the Johnson law office!! They are awesome!!

Nick
Myles was excellent during my divorce and custody case. I had a very high-stress, and complicated situation, and not only was he efficient, but he kept me at ease throughout the entire process. He is genuine and professional, and I could not recommend him enough

Anonymous
I worked with Elizabeth and she did way more for me than I thought possible. I was in a bad situation when I came in. She took my case then proceeded to go above and beyond until the very end. Everyone I dealt with at the firm was extremely professional, easy to talk to, and…

Nick D
Our family has literally dealt with multiple law firms and attorneys over the course of 8 years, Attorney Robert Perrone is by far one of the highest-level law professionals. He is very responsive. No matter how intense matters may be, he is there for you. His demeanor is calm, which helps you in times of…

Jorel Shophar
Rachel Amspoker is very professional, kind and courteous. I had a very pleasant experience working with her and will definitely recommend her to others.

Anonymous
If you are in search of an attorney for family law, stop here. This is hands down the best firm you could work with. They get to know you, your situation, and your family. They truly CARE about you & will walk through fire to get you the best possible outcome. I could never speak…

Anonymous
Johnson Law Group did and is doing an excellent job with my case. Quick response to questions, making the line of communication superb. Thanks for all help and wish you all a great future. With continued service I had to update and say how pleased I am with how Myron is handling my case. Can’t…

Anonymous
I have a high profile case involving a custody matter, that stretched across multiple States, which included Colorado. I contacted Johnson Law Group, the team was exceptional in applying the law, and very responsive. At one point I had 4 Law firms attending to the matter in 4 different States, Johnson Law Group stood out…

Jorel Shophar
Had great help with Shannon pulling together a prenuptial agreement in a short amount of time. Greatly appreciated her support!

Brie DeLisi
This review nor a amount a amount of characters can express how grateful I am for Johnson law. From the moment I called they gave me a peace of mind that they where going to be able to help me thru my child custody situation. I worked with Yasaman and she was super professional and…

Jaime Sosa
I spoke with Elizabeth today about my child custody and support case today. She was very courteous and professional. She spoke with the intelligence, understanding and compassion that I would demand from my lawyer. I have spoke[n] to a few people at this firm and they all have shown me that they hold traits like…

Chris Hance
The Johnson Law Group was my saving grace in mitigating my divorce process. They were very professional and showed heart warming empathy towards me. The entire group treated my like an actual person and not just another client. My questions were always answered in a timely manner and the process was so easy. I would…

Kimberly Dunlap
They have been extremely helpful in my somewhat complicated divorce/custody battle. They are extremely responsive and always available if I have any questions. I would definitely [recommend] them to anyone seeking family law assistance.

Zack Leavitt
This family law firm is notably professional, caring, and competent in handling what is, understandably, a very difficult and emotional event in any person’s life. Their dedication to my case, along with their empathy and expertise, has been instrumental in making a terrible situation manageable. Of note, their candor towards legal realities and reasonable expectations…

William O’Neill
I had the pleasure of working with Yasaman and she was nothing less then great! She really understood me and the frustration I had going through the case I had. I would definitely use her again!

Marissa
My experience with the Johnson Law Group has been nothing more than spectacular. From the initial phone call I spoke to Myles Johnson, he gave great direction on how to proceed. Then acquiring the firm as my legal representation I worked with Said and he helped me step by step to get what I was…

Brady Martinez
Shannon was a great help. She really cares about what she is doing. Everything was taken care of when needed to be done and she never slacked on her job. Johnson law group was by far the best law firm I have been through. They always make sure your needs are met and are always…

Timothy
I’m extremely proud of the most professional and considerate Johnson Law Group. I appreciate all the help my attorney and paralegal has done for me in the best interest of my daughters future. They’re all most knowledgeable, caring law group! I couldn’t have done it without their genuine support on representing my case(s). I’m grateful…

c
These folks are a team and do wonderful work you can count on them to treat your case very personably. They helped me get my two kids back from their mom who had her own lawyer as well and didn’t let me get bullied around. I wish I called sooner.

Aaron
I would highly recommend Johnson Law Group for anything involving your custody battle. They were understanding, professional and answered all my questions through the whole thing. Thankful I chose this office because I got everything I asked for.

Naomi
Myles is the most amazing attorney to ever exist. He helped me get 50% of my daughter when I had no time at all. He is always responsive. Cut me a couple deals with phone conversations. He was so helpful throughout the entire process and really cares for his clients. My family would not be…

Corey
Elizabeth and everyone at Johnson Law Group were amazing helping us get through a custody battle! Highly recommend.

Amanda
I found this law firm by a Google search, they were relatively close to my house, so we decided to check them out. It was the BEST decision we made for our family law case. We had Elizabeth represent us and she did such an amazing job! She was professional, timely, great communication, did a…

Ann
I worked with Elizabeth and she did way more for me than I thought possible. I was in a bad situation when I came in. She took my case then proceeded to go above and beyond until the very end. Everyone I dealt with at the firm was extremely professional, easy to talk to, and…

Nick
Myles is very professional and well informed in his field. He helped me resolve custody quickly and in a way that all parties were happy. Cassidy their paralegal was also extremely helpful and client driven . 5 stars!!

Stevie
Myles helped me draft a prenuptial agreement, and he was a trusted and helpful advisor during a very delicate legal negotiation process with my now-husband!

Rose
Genet and Shannon were amazing, communicative, supportive and great to work with. Highly recommend.

Shae
Excellent legal service provided in a professional and timely manner. All my questions answered and very friendly staff. Cost for service very reasonable. Highly recommended to you by me! Give her a call.

Virginia
Myles and Genet Johnson truly helped to make a stressful situation positive, understandable and manageable. They’re professional and supportive team work was beyond efficient and they got the job done in the least amount of time and with the least stress possible. They’re an amazing team to help with family needs and are always available…

MA
Myles Johnson and everyone at his firm made my divorce a speedy and not a stressful experience. Everyone was fast to return calls or emails. They explained everything thoroughly and so that I could understand the process. They worked with me every step of the way. I would highly recommend Johnson Law Group and if…

Robin
Genet and Elizabeth were delightful to work with and definitely helped me to understand the process. Thank you.

Aleza
Myles Johnson is an excellent divorce attorney – the Best of the Best! I HIGHLY recommend him and his legal team of paralegals and staff because I had a great experience with them. Myles is smart and savvy and fully committed to his clients as an attorney and mediator. He represented me in my divorce…

MJ
I called Johnson Law Group extremely frustrated and stressed with the process of my custody case. From the consultation to every conversation after, Elizabeth went out of her way to make sure that i was comfortable with all the matters and decisions. My goals and the safety of my children were always the priority to…

Patricia

My divorce was extremely difficult. I faced very serious allegations and the possibility of losing my children and almost complete financial ruin. I felt alone and desperate. If it hadn’t been for the professionals at Johnson Law Group my life would have been ruined for years to come if not permanently. Everyone at the firm…

Zarzegas

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